The Australian Federal Police stated that as part of a special operation to combat cryptocurrency ATM crimes, they have contacted over 90 Australian residents, including "pig butchering" victims and suspects involved.
The Australian financial intelligence agency AUSTRAC reported on Wednesday that one of the victims is a 77-year-old widow who was scammed out of AUD 433,000 (approximately USD 282,947) in an online dating scam.
The Australian Broadcasting Corporation (ABC) reported that this widow had been "in love" online with a so-called Belgian man for two years, and it was only when the police came to investigate that she realized the whole thing was a scam.
According to the victim's description, the scammer she met on a dating app showed her fake documents, claiming to earn AUD 13,000 (USD 8,464) a week, which lured her into investing in Bitcoin (BTC).
Reportedly, during her first transaction, the scammer guided her through the entire process, including withdrawing cash from a regular ATM and then reloading it through a Bitcoin ATM. In just 18 months, she transferred all her life savings to the scammer.
The victim revealed to ABC that she once carried AUD 20,000 (USD 13,023) in cash and added that these transfer operations usually required "half a day's work," making her "quite proficient in using Bitcoin ATMs." "The most painful part was having to tell my daughter that I had given away all my life savings, which I had worked hard to accumulate over 40 years, and that scammer took it all in just 18 months."
AUSTRAC CEO Brendan Thomas stated, "The task force also discovered another woman in her 70s who was defrauded; she was lured by what appeared to be a legitimate advertisement claiming that a trading company could provide substantial investment returns. As a result, she lost over USD 200,000."
In this operation, Australian police focused on high-risk users of cryptocurrency ATMs, identified as potentially involved in illegal activities or at risk of becoming scam victims.
The police specifically contacted 21 individuals, either suspected victims of cryptocurrency ATM-related scams or accused of participating in illegal activities related to these devices.
Thomas stated, "We previously suspected that a large number of cryptocurrency ATM transactions might involve illegal activities, but it is concerning that our law enforcement partners found that almost all the transactions we referred involved victims rather than criminals."
One person was charged with money laundering, and four others received formal warnings for allegedly using cryptocurrency to purchase drugs or acting as "money mules" for criminals.
However, some suspected "money mules" are actually scam victims who either unknowingly assisted criminals or actively transferred money in an attempt to recover stolen funds. The Australian Federal Police pointed out that some victims are reluctant to admit they have been deceived by cybercriminals.
This latest operation follows AUSTRAC's implementation of new operational rules and transaction limits for cryptocurrency ATM operators on June 3 to combat scams. Last December, the agency also listed cryptocurrency as a key regulatory focus area for 2025.
Australian Federal Police Commander Graeme Marshall noted in a statement that scam victims are being manipulated into depositing thousands of dollars into cryptocurrency ATMs, with scammers using false promises of love, employment, investment, or quick profits as bait.
"If someone promises you quick profits, if there is high-pressure deadlines or urgency, or if you have never met the person, please cut off contact immediately and report it," he emphasized. "We need to convey the message that if any individual, business, or government agency asks you to make payments using cryptocurrency, do not send money."
According to the Australian Federal Police, the Australian online cybercrime reporting system ReportCyber received 150 independent reports related to cryptocurrency ATM scams from January 2024 to January 2025, with losses exceeding AUD 3.1 million (approximately USD 2 million).
Related: U.S. regulators urge Fannie Mae and Freddie Mac to consider incorporating cryptocurrency into mortgage risk assessments
Original article: “Cryptocurrency ATM Scam Exposed: Seventy-Year-Old Widow Scammed Out of USD 281,000”
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